Bhutan offered $30M in Bitcoin in February as spot BTC ETFs recorded $410.37M in internet outflows, with BTC close to $66,000.
Bhutan Sells Extra Bitcoin as $410M Exits BTC ETFs, including stress to the market as Bitcoin trades close to $66,000.
Latest blockchain information reveals recent transfers linked to the Royal Authorities of Bhutan whereas institutional buyers withdraw funds from spot Bitcoin ETFs.
Bhutan Extends February Bitcoin Gross sales
On-chain information from Arkham reveals that the Royal Authorities of Bhutan moved $6.7 million price of Bitcoin to QCP Capital.
QCP Capital is a Singapore-based institutional market maker. The switch varieties a part of a broader promoting development throughout February.
BHUTAN JUST SOLD $6.7 MILLION BTC
Bhutan has been promoting Bitcoin each week for the previous 3 weeks. pic.twitter.com/cLL3fb2Ckh
— Arkham (@arkham) February 13, 2026
Earlier transactions concerned 184.03 BTC valued at $14.09 million and 100.82 BTC price $8.31 million.
These transfers had been linked to Druk Holding Investments, the funding arm of Bhutan. Each transactions had been directed to wallets related to QCP Capital.
Arkham information suggests the federal government usually sells Bitcoin in tranches close to $50 million.
Data present bigger disposals throughout September 2025, with some transactions exceeding that degree. The latest February gross sales whole about $30 million thus far.
Bitcoin Holdings Decline From Peak Ranges
Bhutan has amassed Bitcoin by means of mining operations since 2019. Its holdings reached a peak of 13,295 BTC in October 2024.
Present estimates present reserves have declined to round 5,600 BTC.
In response to Bitcoin Treasuries information, Bhutan ranks seventh globally in sovereign Bitcoin holdings.
The discount in holdings displays continued portfolio changes throughout market weak point. Bitcoin not too long ago traded near $66,000 amid broader promoting exercise.
The dimensions of the most recent transfers stays smaller than earlier liquidation phases. Nevertheless, the regular outflows coincide with softer value motion.
Market contributors proceed to observe sovereign pockets actions for additional adjustments.
Associated Studying: Bhutan Trims Bitcoin Reserves as Mining Circumstances Worsen
$410M Exits Spot Bitcoin ETFs
Institutional flows additionally present heavy withdrawals from spot Bitcoin ETFs. Knowledge from SoSoValue recorded $410.37 million in internet outflows in a single buying and selling session.
The biggest every day outflow got here from BlackRock’s IBIT, totaling $157.56 million.
Constancy’s FBTC adopted with $104.13 million in internet outflows. The withdrawals occurred as Bitcoin approached choices expiry.
The worth slipped towards $66,000 throughout the identical interval.
Normal Chartered not too long ago lowered its 2026 Bitcoin value goal to $50,000. The revision contrasts with Bernstein, which maintained a $150,000 forecast.
Bernstein described the present pullback because the “weakest bear case” and cited “no main failures” in market construction.
The mixed impact of sovereign gross sales and ETF outflows has elevated short-term provide. Merchants at the moment are watching fund movement information and on-chain transfers for additional course.